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Problem 1: You are conducting the audit of DEF Ltd which operates a large property investment business across Australia. In your discussions with management, you identify that the property market has been booming during the year and rental returns have also increased substantially. Which of the following is true in relation to the audit.
a) The overall audit risk would need to increase due to the improved property valuations causing less risk of impairment. b) Control risk will increase which will mean that detection risk will need to decrease in the audit. c) The level of materiality will increase because there is less risk of errors due to a lower inherent risk. d) A more substantive audit strategy on the property would be required due to a lower detection risk approach required.
Don James purchased a new automobile for $13,000. Calculate the amount of the required monthly payment
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The following data consists of 6 homes with variables Price = sale price in tens of thousands of dollars, Floor = floor size in thousands of square feet, and Lot= lot size.
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last periods end work in progress was 300 units with dm 20 dl 30 oh 60. we started 2800 units this period at abc
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